In a significant move towards strategic collaboration, Coal India Limited (CIL) is exploring the possibilities to form a joint venture (JV) with Indian Oil Corporation Limited (IOCL). The development follows recent discussions between Shri Debasish Nanda, Director of Business Development at Coal India, and Shri Arvindar Singh Sahney, Chairman of IOCL.
During the meeting, key areas for collaboration were identified, including the potential JV for the conversion of Ammonium Nitrate to explosives, a crucial step in the mining and construction industries. This partnership will also look into the manufacturing of advanced lithium-ion batteries, aimed at supporting India’s transition to electric vehicles and renewable energy solutions.
Another significant topic discussed was enhancing the operations of the Hindustan Urvarak & Rasayan Limited (HURL) joint venture. With the expertise of both CIL and IOCL, the collaboration aims to boost production capabilities and improve the efficiency of HURL’s operations, particularly in the fertilizer sector, which remains vital to India’s agricultural landscape.
The proposed JV marks a further step in the long-term growth strategy of both companies, solidifying their roles in India’s energy, infrastructure, and manufacturing sectors.
